The National Stock Exchange’s Nifty ended in a uneven session because on a flat note due to lack of conviction amongst investors following miserable performance of Congress party in Uttar Pradesh assembly elections.

“In our view, the policy drift in New Delhi is likely to persist and the urge to push through reforms aggressively in the face of opposition from allies and opposition may continue to take a backseat,” said a member from Congress.

National Stock Exchange

In addition to the predictable all-important fiscal consolidation plan to be publicized in the Budget on 16th March 2012 and the intent of the government to speed-up second generation reforms, the markets would continue to be swayed by the global liquidity surge that has been flooding budding markets in general and India in meticulous and movement in global oil prices,” said Ajay Bodke, Head Investment Strategy & Advisory, Prabhudas Lilladher.

The Nifty ended at 5220.45, down 1.95 points or 0.04 per cent. The broader index touched a high of 5243.85 and low of 5171.45 in trade today.